Otterbein’s Financial Aid Programs
Satisfactory Academic Progress
Additional Financial Aid Sources
Otterbein’s financial aid programs are based upon the following principles:
- Otterbein is committed to making your education financially attainable through scholarships, awards, grants, loans and work programs.
- Academic scholarships earned by the student are awarded for four years of study, Fall and Spring semesters, provided the student meets the criteria of the award.
- Merit-based scholarships may reduce self-help for students who also receive need-based assistance.
- Need-based Financial Aid Awards will have loan and work-study components. Many of our full-time students receive some form of need-based financial assistance. We believe that our financial aid policy helps make an Otterbein education reasonably affordable to students from all economic levels.
- Financial aid is renewed annually on the basis of continued financial need and satisfactory academic progress as defined by the University catalog. Since a family’s financial strength is subject to change, financial need and the amount of aid awarded may increase or decrease each year. Other factors may change a student’s award. Examples would include a change in housing status, enrolling at less than a full-time status, failure to maintain Satisfactory Academic Progress and changes to the family size.
Satisfactory Academic Progress (SAP) must be maintained in order to remain eligible for Federal Aid consideration. The Financial Aid Office evaluates SAP after the completion of each academic period (Summer, Fall, and Spring). All terms of enrollment, including Summer, must be considered in the determination of SAP (even periods in which the student did not receive federal student aid funds must be counted).
Satisfactory Academic Progress (SAP) towards a degree is determined by three tests:
1. Academic Standing, the appropriate GPA based upon credit hours as outlined above;
2. An undergraduate student’s successful completion of credit hours attempted; and
3. The completion of one’s degree within a reasonable time period.
Credit Hours Attempted versus Hours Earned: To maintain eligibility for federal student financial assistance, a student must successfully complete two-thirds (67%) of the credit hours attempted. Any course with a grade of “F” (failing), “W” (withdrawal), or “IP” (in progress) on the student’s academic transcript is considered an unsuccessful completion of hours attempted. Once the “IP” has been completed, the grade will stand as either successful or unsuccessful completion as mandated by the Federal Government.
Degree Completion: In addition to completing two-thirds of the credit hours attempted, a student must also complete his/her academic program within a reasonable timeframe, not to exceed 150% of the published length of the program—a student must meet all graduation requirements by the time the 192nd credit has been attempted (or the 225th credit if seeking a BA or BS in Public Accounting). All periods of attendance are counted towards the maximum timeframe.
Since Academic Standing and SAP are interrelated, a student may meet an adequate Academic Standing level (higher than a 2.0 cumulative GPA, for example), but not meet SAP standards. If the student has not successfully completed enough classes (those classes with a “D” or above on the academic transcript) to meet the two-thirds (67%) earned hour rate, he or she would not be making SAP for federal financial aid purposes.
Graduate students are considered to be making SAP for purposes of financial aid eligibility only if they are in good academic standing with Otterbein.
The first time a student fails SAP they will be placed on warning. A student on warning status may receive one term of financial aid. If a student on warning fails SAP they may appeal his/her SAP and possibly receive one term of federal aid on probation. Student failing SAP may be required to submit a written plan signed off by a member of the Center for Student Success. The SAP Appeal form may be used for this purpose and is available in the Financial Aid Office or through the website in the forms section. SAP is administered by the Office of Financial Aid (614-823-1502).
The federal government requires that Otterbein University monitor the academic progress of non-recipients, too. Be aware that your academic progress during any term in which you do not have financial aid will be a factor in determining your eligibility for aid in subsequent terms.
Otterbein Scholarships are awarded to first-time Otterbein undergraduate students enrolled full time and are renewable for four years as long as students maintain appropriate academic progress. Scholarships are awarded on a merit basis; the Otterbein President’s, Trustee, Deans’, and Alumni Scholar Awards will be given at the time of acceptance after a review of the high school record including cumulative grade point average and class rank if provided, and ACT or SAT scores. The essay submitted with the admission application and the letter of recommendation will also be taken into account. Other institutional scholarships and/or talent grants will be awarded at various points throughout the academic year and according to their set requirements.
$13,000 President’s Scholar Award
Awarded to students who have demonstrated exemplary scholarship and leadership in high school. Consideration for the award is based on a student’s overall application for admission. The average qualifications of students likely to receive this recognition would be about 4.0 weighted GPA, 28 ACT or 1260 SAT (Math and Critical Reading) and rank in the top 5 percent of their graduating class. The award is available for all four years as long as student maintains a 3.0 GPA or higher and is enrolled full time.
$12,000 Trustee Scholar Award
Awarded to students who have demonstrated exceptional scholarship and leadership in high school. Consideration for the award is based on a student’s overall application for admission. The average qualifications of students likely to receive this recognition would be about 3.75 weighted GPA, 25 ACT or 1150 SAT (Math and Critical Reading) and rank in the top 15 percent of their graduating class. The award is available for all four years as long as a student maintains a 3.0 GPA or higher and is enrolled full time.
$11,000 Deans’ Scholar Award
Awarded to students who have demonstrated outstanding scholarship and leadership in high school. Consideration for the award is based on a student’s overall application for admission. The average qualifications of students likely to receive this recognition would be about 3.5 weighted GPA, 23 ACT or 1070 SAT (Math and Critical Reading) and rank in the top 25 percent of their graduating class. The award is available for all four years as long as a student maintains a 2.5 GPA or higher and is enrolled full time.
$10,000 Alumni Scholar Award
Awarded to students who have demonstrated outstanding scholarship and leadership in high school. Consideration for the award is based on a student’s overall application for admission. The average qualifications of students likely to receive this recognition would be about 3.15 weighted GPA, 22 ACT or 1030 SAT (Math and Critical Reading) and rank in the top 40 percent of their graduating class. The award is available for all four years as long as student maintains a 2.5 GPA or higher and is enrolled full time.
$500-5,000 Ammons-Thomas Awards
The Ammons-Thomas Award is named for Bishops Edsel A. Ammons and James S. Thomas of the Ohio United Methodist West and East Conferences. Ranging in value from $500 to $5,000 per year, these awards are offered to qualified students of color after acceptance to the College and an evaluation of a written essay. A limited number of Distinguished Ammons-Thomas Awards of up to one-half tuition are also available to outstanding students. Recipients must maintain fulltime enrollment and satisfactory academic progress toward their degrees. Applications are available from the Office of Admission.
Cardinal Science Scholars Awards $6,000
These awards are given to freshmen pursuing studies in Chemistry, Biochemistry, Physics or Engineering. Students are evaluated through the review of their admission application, high school record, and application essay. In addition to the scholarship, the awardees will participate in an enriched educational experience that includes enhanced academic, social, and career programming, including a weekend summer immersion experience, involvement in a mentoring triad with an upperclassman and alum, social activities with students and faculty, visits to regional graduate programs and industries, and talks by leading scientists.
International Baccalaureate Scholarships
Scholarships ranging from $1,000-7,000 are awarded to recognize participation in the International Baccalaureate Programme. The amount is determined by level of achievement and on an individual basis; $7,000 will be awarded to those who achieve the IB diploma; $1,000 for each IB certificate earned up to a total of five.
National Merit Finalist Awards
National Merit Awards of $2,000 are offered to students who have been recognized through the National Merit Scholarship Selection Process.
The Battelle Scholarship is awarded to incoming first-time freshmen who show unusual leadership potential and intellectual promise. The scholarship is worth one-half the cost of tuition or $14,775. The award is renewed annually providing the recipient maintains fulltime enrollment and a 3.0 grade point average. To be eligible to apply for the Battelle Scholar Award, a student must live in or have graduated from a high school in either Delaware, Fairfield, Franklin, Licking, Madison, Pickaway or Union counties of Ohio. Application materials may be obtained from the Office of Admission upon request and must be completed and returned to that office by March 1.
Community Service Awards: $1,500
Community Service Awards are awarded to incoming first-time students who have demonstrated commitment to community service and scholarship during high school, and agree to coordinate a community service program while at Otterbein.
Department Scholarship Awards
Otterbein’s academic departments award scholarships to upperclass students who qualify on the basis of criteria established by each department. For application information, students should contact individual department chairpersons.
Legacy Awards of $1,000 are given to full-time students whose parent(s) or grandparent(s) attended Otterbein for at least two consecutive terms.
$2,500 Otterbein Transfer Scholarship Awards
Awarded to traditional-age transfer students who have attempted at least 12 quarter or 8 semester hours of coursework and have earned a transferable GPA of 2.8 or higher. (Renewable during the regular academic year and based on full-time enrollment.)
$3,000-4,000 Bridge Scholar Awards
Awarded to students with an associate’s degree from any community college, who will transfer to Otterbein as a full-time student. Selection based on cumulative GPA.
Talent awards of $500 to $4,000 are given to incoming students who demonstrate outstanding ability and potential in visual art, music, communication and theatre. Talent awards are renewable for a maximum of four years of fulltime enrollment and subject to satisfactory performance as assessed by the department. Information about auditions and dates can be found on our website.
Music—Students who plan to seek a major in music or music education are eligible to be considered for music talent awards. An audition is required. Information about auditions and dates may be obtained by writing to: Chairperson, Department of Music, Otterbein University, Westerville, Ohio 43081, or call 614-823-1508.
Music Participation—Students who are non-music majors are eligible to be considered for music participation awards. An audition is required. Information about audition dates may be obtained by writing to: Chairperson, Department of Music, Otterbein University, Westerville, OH 43081, or call 614-823-1508.
Musical Theatre—Talent awards are available to students planning to pursue the interdisciplinary degree in musical theatre. Awards are based on ability, potential, and previous experience. An audition is required. For information about audition dates, write to the Department of Theatre and Dance, Otterbein University, Westerville, OH 43081, or call 614-823-1657.
Communication—Awards are available to students planning to major in communication, broadcasting, business/organizational communication, journalism, organizational communication or public relations. Awards are based upon high school record, test scores, communication-related activities and completion of an essay. To be eligible for consideration, a student must be accepted to Otterbein. For information, please write: Chairperson, Department of Communication, Otterbein University, Westerville, Ohio 43081, or call 614-823-1752.
Theatre—Talent awards are available to students planning to seek a major in the Department of Theatre and Dance. Awards are based on ability, potential, and previous experience. An audition or portfolio review is required. For information about interview dates, write to the Department of Theatre and Dance, Otterbein University, Westerville, Ohio 43081, or call 614-823-1657.
Dance—Talent awards are available to students planning to seek a minor in dance in the Department of Theatre and Dance. Awards are based on ability, potential, and previous experience. An audition is required. For information about audition dates, write to the Department of Theatre and Dance, Otterbein University, Westerville, OH 43081, or call 614-823-1657.
Art—Awards are made to students planning to major in visual arts. Selections are based on the evaluation of a portfolio submitted by the student and an interview. For information, please write to: Chairperson, Department of Art, Otterbein University, Westerville, Ohio 43081, or call 614-823-1508.
Air Force ROTC and Army ROTC offers four-, three-, and two-year scholarships. The four-year scholarship is applied for during the senior year in high school. Three and two-year scholarships are offered to qualified men and women in college and are available in every major. The benefits provided by scholarships include full payment of tuition, $600 per year for textbooks, and a monthly tax-free allowance of between $250 and $400. Upon entering the Professional Officer Course (POC), all cadets (scholarship and non-scholarship) receive the $350 per month tax-free allowance. This information is subject to change. In addition to the tuition awarded by R.O.T.C., Otterbein will give a standard room and board stipend for cadets living on campus in University housing. Through cooperative agreements, students attend Air Force R.O.T.C. classes at nearby Ohio State University and Army R.O.T.C. classes at nearby Capital University. Scholarship applications and additional information may be obtained by contacting Ohio State at 614-292-5441 or Capital at 614-236-6649.
To be considered for need-based financial aid, each student must file a Free Application for Federal Student Aid (FAFSA). Students accepted through the Office of Continuing Studies must also complete the Otterbein University Institutional Aid Form (IAF). There is a financial aid priority filing deadline date of April 1. Complete and submit the Free Application for Federal Student Aid (FAFSA). The FAFSA is the first step in the financial aid process. You can fill out and submit your application through FAFSA on the Web at http://www.fafsa.gov. Electronic filing is the fastest and easiest way to apply for financial aid. Be sure to list Otterbein University and our Title IV school code 003110. Aid recipients must be regular students enrolled in an approved degree or certificate program.
Financial aid may consist of single or combined offers of non-repayable scholarships and grants, loans and part-time campus employment. By filing the FAFSA, you will be considered for all need-based financial aid offered by the University. The total grant and merit assistance from Otterbein will not exceed tuition. Continuing Studies students must also complete an Institutional Aid Form (IAF).
Federal Grants and Stafford Student Loans are awarded to eligible students during any period of enrollment, including summer. University funds (need based or scholarships) are not available for students attending in the summer, or less than full-time. Financial aid is awarded with the expectation that it will be renewed annually on the basis of funds available, academic progress toward a degree, eligibility, and continued financial need. The FAFSA must be updated and submitted each year in order to renew aid. The suggested timeline for applying for financial aid is between January 1 and April 1 of the year preceding enrollment.
Below is a description of the types of financial aid offered or administered by Otterbein University. For further information about financial aid write to: Office of Financial Aid, Otterbein University, Westerville, Ohio 43081, or call 614-823-1502, or toll free at 1-888-OTTERBEIN, or E-mail at Financial Aid@Otterbein.edu.
The grants listed below are applicable to the student’s first undergraduate degree only. Students must be degree-seeking.
Otterbein Grants are University funds awarded to students on the basis of demonstrated financial need to full-time undergraduate students Completion of the FAFSA is required. The Otterbein University Institutional Aid Form (IAF) is also needed for Continuing Studies students.
When two or more dependent sibling students are enrolled full time concurrently at Otterbein University, each student will receive a grant of $1,000 for each year of concurrent enrollment.
Otterbein United Methodist Ministerial Grants
Dependent sons and daughters of United Methodist clergypersons who are probationary members, elders in full connection and Deacons in full connection, are assured a United Methodist Ministerial Grant of $7,000 annually.
State Grant Programs
Ohio residents may receive a state grant based upon financial need as determined by the FAFSA. Application is made by completing the state information request on the FAFSA. The Ohio College Opportunity Grant Program (OCOG) provides need-based tuition assistance to Ohio residents. Application is made by completing the Free Application for Federal Student Aid (FAFSA).The Ohio College Opportunity Grant Program (OCOG) provides need-based tuition assistance to Ohio residents. Eligible students in prior years were required to have an Expected Family Contribution (EFC) of 2190 or less with a maximum household income of $75,000. Students who are residents of Delaware, Michigan, Pennsylvania, Rhode Island and Vermont may receive state grants which may be used to help meet educational costs at Otterbein University. Students should contact their high school guidance counselors or state Department of Education for further information.
Federal Pell Grant
This is a federal program through which an undergraduate student may receive for the academic year up to a maximum yearly grant of $5,550. Application is made by completing the FAFSA. The Federal Pell Grant is available to all levels of enrollment if student is eligible.
Federal Supplemental Education Opportunity Grants
A limited number of students who demonstrate a high degree of financial need are awarded the Federal Supplemental Educational Opportunity Grants (FSEOG). Priority is given to students with Federal Pell Grant eligibility.
Federal Perkins Loan
A limited number of students who demonstrate exceptional financial need are awarded the Federal Perkins Loan. The Perkins Loan Program is funded by both Otterbein University and the federal government.
Interest is not charged while the student is enrolled at least half-time (6 credit hours per semester). Repayment at 5% interest begins nine months after graduation or termination of at least half-time enrollment. The completion of all paperwork and the signing of the Master Promissory Note (MPN) are done online.
Federal Direct Stafford Loans
Federal Direct Stafford Loans are federal loans for undergraduate and graduate students. Student applicants must meet eligibility requirements to receive federal student aid and meet satisfactory academic progress requirements. The Federal Direct Stafford Loans are a form of aid that must be repaid by the student borrower. Federal Direct Stafford Loans are either subsidized or unsubsidized.
A subsidized loan is awarded based on financial need. The borrower will not be charged interest before repayment begins or during deferment periods. The federal government “subsidizes” (pays) the interest during these periods.
An unsubsidized loan is not awarded on the basis of need. The borrower will be charged interest from the time the loan is disbursed until it is paid in full by the borrower. If the borrower chooses not to make interest payments and allows the interest to accrue (accumulate) while in-school or during other periods of nonpayment, the interest will be capitalized. This means the interest will be added to the principal amount borrowed and additional interest will be based on that higher amount.
Federal Direct Stafford Loans Overview
How to Apply:
- Student must complete the Free Application for Federal Student Aid (FAFSA).
- Once the student receives a Financial Aid Award, the student must accept the Federal Direct Stafford Loan(s) via Self-Service Banner in accordance with the instructions provided on the Financial Aid Award.
- After accepting the Federal Direct Stafford Loan(s), the student must complete Entrance counseling and sign a Master Promissory Note online at www.StudentLoans.gov.
Federal Direct Stafford Loan Annual Limits
|Independent Students (and dependent students whose parents have been declined a Federal Direct Parent PLUS Loan due to adverse credit history)
|Freshmen (0 to 44 undergraduate credit hours earned/transferred)
||$5,500 (No more than $3,500 of this amount may be in subsidized loans.)
||$9,500 (No more than $3,500 of this amount may be in subsidized loans.)
|Sophomore (45 to 89 undergraduate credit hours earned/transferred)
||$6,500 (No more than $4,500 of this amount may be in subsidized loans.)
||$10,500 (No more than $4,500 of this amount may be in subsidized loans.)
|Junior/Senior (90 or more undergraduate credit hours earned/transferred)
||$7,500 (No more than $5,500 of this amount may be in subsidized loans.)
||$12,500 (No more than $5,500 of this amount may be in subsidized loans.)
$12,500 (No more than $5,500 of this amount may be in subsidized loans.)
Federal PLUS Loans
The Federal Direct Parent Loan for Undergraduate Students is a federal loan that credit-worthy parents of dependent undergraduate students can borrow for their child’s educational expenses. Both parent applicants and students must meet eligibility requirements to receive federal student aid, and students must meet satisfactory academic progress requirements. The Federal Direct Parent PLUS Loan is a form of aid that must be repaid by the parent borrower.
Federal Direct Parent PLUS Loan Overview
How to Apply:
- Student (parent applicant’s child) must complete the Free Application for Federal Student Aid (FAFSA).
- Once the student receives a Financial Aid Award, the parent applicant must complete the PLUS Loan Request Process.
- Parent applicant must complete a Federal Direct Parent PLUS Loan Master Promissory Note (MPN) online at www.StudentLoans.gov
Additional Loan Programs
United Methodist Student Loan
Offerings received from the annual United Methodist Student Day provide loan funds for United Methodist students. The annual maximum loan is $2,500 with interest at six percent charged each year from the date the loan is granted until repaid in full. A student may borrow once per calendar year. No more than $15,000 may be borrowed during the student’s entire educational program. Loan checks are made payable to the student and are issued only after the student is in classroom attendance at the University.
Interest accrues from the date the loan check is issued and continues until the loan is paid in full. Monthly repayment of the loan plus interest begins six months after graduation or withdrawal and may be extended no more than 120 months from date first payment is due. A deferment may be arranged if the borrower returns to school in an accredited program.
To be eligible for a loan, an applicant must have been received into full membership in the Church for at least one year prior to application, be a citizen of the United States or have permanent resident status and have a C grade average or better. Loans are available to undergraduate and graduate students.
Applications may be obtained from the Financial Aid Office. Additional information may be found at www.gbhem.org.
Henry Strong Loan
The Henry Strong Educational Foundation provides a limited number of loans to students with financial need. Eligibility for the loan is determined by the Financial Aid Special Circumstance Committee and bears an interest rate of five percent.
The Henry Strong Loan may be granted to students under the age of 30. The amount of the loan is dependent upon need, the students personal resources, and available funds from other sources. The Foundation expects a student who has to borrow to use every means possible—scholarships, summertime employment, school jobs, etc.—to keep the amount a student must borrow to a minimum. A loan from this fund cannot be consolidated with any other loan program.
Pifer and Schell Loan
Pifer and Schell Loans are college-based, short-term loans made to students in emergency situations. Based on fund availability, the loan is approved after the student’s request is reviewed by the Financial Aid Special Circumstance Committee.
Private loan programs are designed to bridge the funding gap when savings, grants, federal loans, and other resources are not enough or simply not available. Students have the option to borrow private loans directly from a lender. There are many options available to you. It is important to note that all loans are not equal. Pay special attention to interest rates, fees, credit scoring and co-signing. An online lender comparison list is provided to assist you in reviewing your loan options.
Please see http://www.otterbein.edu/financialaid for more information as well as viewing FASTChoice to see a comparative list of lenders.
Please contact the Office of Financial Aid if you choose not to utilize a lender from the list so that we are made aware of your loan application.
Before you look at private loans, make sure that you have exhausted all possibilities for federal and state financial aid programs. Exploring your options now may save you time and money in the future. If you have specific questions or concerns regarding private loans, we suggest you contact the lender directly.
New Federal Regulations as of February 14, 2010 require students to complete a Private Education Loan Self-Certification Form in addition to a loan application. Students are required to return this form to their lenders prior to disbursement of the loan. In order to complete this form you will need to know your Cost of Attendance and Estimated Financial Assistance. You can find this information in your Self-Service Banner account under the Financial Aid tab, on the Financial Aid Status screen.
Federal College Work-Study
This program is funded jointly by the University and the federal government and provides part-time employment to students who demonstrate financial need. Selection of the recipients and determination of the amount each student may earn during the academic year is made by the Financial Aid Office. Students may work up to 20 hours per week during Fall and Spring semesters and up to 40 hours per week during vacation periods. Students are paid once a month by check for actual hours worked.
Job openings are posted on-line in Human Resource Student Jobs of the Otterbein website at http://www.otterbein.edu/financialaid Students should apply for jobs soon after the beginning of classes. Employment is available in such departments and offices as the bookstore, library, maintenance department, physical education center, residence halls, faculty and administrative offices, and community service sites.
Non-Federal College Work-Study
This program is funded entirely by the University and provides part-time employment primarily to students who do not demonstrate financial need. A limited number of jobs are available during both the academic year and the summer on a first-come, first-served basis. Students employed under this program must be enrolled as full-time in the undergraduate program (12 or more credit hours per term) and may not have previously received bachelor’s degrees.
Ohio National Guard Scholarship
Ohio National Guard Scholarships are available to eligible students who enlist in the Ohio Air or Army National Guard for a period of six years. The scholarship is renewed annually providing the recipient maintains fulltime enrollment and satisfactory academic progress. Information may be obtained by contacting the Ohio National Guard, Adjutant General’s Department, 2825 West Granville Road, Columbus, OH 43234-2712.
Vocational Rehabilitation Benefits
Benefits are available to eligible students who have disabilities that are considered a handicap to employment. Specific information may be obtained by contacting the local State Bureau of Vocational Rehabilitation Office. Recipients must notify the Financial Aid Office annually regarding their eligibility.
Benefits are available to eligible veterans of the Armed Forces and eligible spouses, widows, widowers and children of veterans who died or are permanently and totally disabled as a result of service in the Armed Forces. Please see our web site at http://www.otterbein.edu/veterans/resources.asp for more details. Contact your veteran’s administration center for additional details. Also see the United States Department of Veterans Affairs online at http://www.gibill.va.gov/.
Many corporations and small companies offer financial aid benefits to employees or their children. Often these sources are overlooked by students and their families. For more information contact the personnel office or supervisor of your employer.
I Know I Can Grant
Students who attend high schools in the Columbus Public School System may be eligible to receive a grant. Contact the I Know I Can Program, Columbus Public Schools, Columbus, OH 43215 614-469-7044.
The Tuition Exchange Inc. Scholarships
Full tuition scholarships may be available to eligible students whose parents work for a college or university that is in good standing with The Tuition Exchange, Inc. For more information, contact the TE Liaison Officer at your parent’s school or visit the following web site: www.tuitionexchange.org.
Conditions of Financial Assistance
The Financial Aid Office has the right to adjust or void an offer of aid at any time it is found necessary. Such adjustments may result in the student owing a repayment. This action may be the result of a change in student status, determination that an award was made based on false or outdated information, the availability of federal, state, or institutional funding, the late completion of application materials, conflicting information, or an unintentional processing error on the part of Financial Aid Office systems or staff. Additional documents may be requested from the student or family.
Students are required to attend class and adhere to the appropriate federal, state and University regulations. If a student wishes to leave Otterbein, he or she must initiate the formal withdrawal process through the Registrar’s Office.
The Financial Aid Office uses a student’s Otterbein-assigned email address as a primary method of communication.